BaltCap Private Equity Fund II, managed by BaltCap, is to buy the business operations serving the local markets in the Baltic States from European vending and coffee services company Selecta Group.
The Estonian, Latvian and Lithuanian businesses altogether employ about 75 people and generate net sales in excess of EUR10 million.
“BaltCap considers Selecta’s Baltic businesses as very successfully managed entities with a fully committed and experienced staff delivering excellent client satisfaction and outstanding results," says Sandijs Abolins-Abols, partner of BaltCap. "Thus, we are excited to enter the business that will serve as a solid base for pursuing business opportunities that exist in the Baltic markets.”
“We have been impressed by Baltcap’s knowledge of the Baltic business specificities and ability to develop its portfolio companies. We believe our Estonian, Latvian and Lithuanian businesses will have the ideal new owner to support a continued solid, sustainable and profitable business development," says David Flochel, CEO of the Selecta Group.
The transaction is subject to the approval of the competition authorities. The parties have agreed not to disclose the transaction price.
